andreas

Okay so this means to be on the safe side (or, if profits exceed either the 7.5k for the room or the 1k for the spot), I could self assess next year before October and declare the gross. However, is the tax then calculated based on the earnings that exceed the relief scheme, or would £12,570 be the total gross without deducting any of the allowances? And non taxable scholarships do not need to be included and do not count towards the tax band / personal allowance limit, right?

I am a noncitizen (student visa) and am looking into renting a room out (with permission) as well as a parking spot. I know there is a relief scheme 7.5k for renting out, and there is a scheme of 1k for letting your parking spot. However, if I understand it correctly, it is not possible to use both of them - so if one has rental income from a room as well as from the parking spot, does that mean that submitting self assessment will be required independent of the gross income? If my gross income exceeds 7.5k, I reckon I would surely need to submit the form. My stipend is non taxable, does that mean that only the rental income will determine the tax bracket and thus even if the gross exceeds 7.5k this may leed to a 0% tax rate?